If I was granted a private loan of $100,000.00 (100 Thousand Dollars) to pay for flight school, could the flight school legally withdraw the money from the loan bank and throw it into an account-- to draw interest on?
Can the school legally take the interest? Or does the whole-shabang have to be given back to me?
--Rob
2006-08-01 08:43:20 · 2 answers · asked by stealth_n700ms 4 in Business & Finance ➔ Other - Business & Finance
The school cannot do anything with the money as long as it's sitting in your account (unles you gave them an authorization). When you pay tuition, the money goes to the school, and they are free to do whatever they want with it.
2006-08-01 08:50:00 · answer #1 · answered by NC 7 · 0⤊ 1⤋
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan
however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is:
http://umgarticles.atspace.com/debt-consolidation.htm
2006-08-01 21:26:45 · answer #2 · answered by Anonymous · 0⤊ 0⤋